SINGAPORE: A woman asked on Reddit why other Singaporeans require so much money to be “comfortable” in life. She wrote in her post, “Everyone says they need S$5-S$10k, which is above median income, just for one person to be comfortable.
Even worse on SGFi and SGHenry where people are spitting 5-10m retirement sums like it’s normal. That’s like what, 200-400k per year in retirement? I don’t even spend 20k a year.”
She wrote further, “Maybe it’s my lower-middle class upbringing (my parents make S$5.5k combined). I was taught to be happy living a simple life. It’s not like we’re struggling, yet Reddit sure makes it seem like we’re living in poverty.
We can afford to eat decently and go 1-2 weeks holiday in East Asia every year. I even saw a comment saying S$10k for a couple can only go on a holiday once every 2-3 years. What are you all spending your money on?”
Singaporeans online shared varied views on what they deem as comfortable. Some argue that the cost of living varies significantly based on individual circumstances.
For instance, one commenter highlighted the challenges of living in a shared HDB room, paying S$1,600 per month while juggling a demanding job.
With limited time for cooking and high rental costs, he shared he finds it challenging to maintain a decent standard of living despite earning a median income.
“I have zero family contact or support. Renting an entire HDB unit nowadays goes for at least S$3,000. Even with a median income, a lot of my salary goes to rent and food as I work 12 hours a day and don’t have time to cook.
I’m single, and it’s hard to find time to meet people who won’t judge me for having a difficult family background. I also need to save for a resale flat, which only goes up in price every year. I’ve been renting since I was in university,” he added.
He also shared that he’s been eating one meal daily for more than six months to make ends meet. He retorted, “Let me know how good you feel about it.”
Another commenter shared her financial struggles, noting, “My father earns exactly S$2k a month. My mum is not working. They have S$20k in savings and are expecting me to be their retirement plan. I’m a low income earner.”
One commenter shared that a comfortable lifestyle for him was not having to worry about paying bills while being able to buy whatever he wanted.
“I want to comfortably hang out and treat friends and family occasionally. Being able to go on trips without having to stay in hostels or choose the cheapest hotels to save money, and opting for more expensive flights for better timings.
Doing anything without having to worry if I have enough money or not.”
Another commenter noted, “Everyone’s normal and baseline is very different.”
One Singaporean shared, “Singaporeans are not in a rat race, they are a rat on a wheel that they keep spinning. They are right, there is no end to the rat race, because the end of it is realising that you are the one keeping yourself there.
There is no magical number that will suddenly make life better.” /TISG
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